Jun 5, 2023 - Economy

Walmart tops Fortune 500 for 11th consecutive year

Amazon and Walmart total revenue
Data: Fortune; Chart: Axios Visuals

Walmart topped the 2023 Fortune 500 list for the 11th year in a row, while Amazon took the second spot for the fourth year running.

Context: Walmart has been running one primary type of business for about 60 years. Amazon, meanwhile, has spent half that time on two or three major services — online retail, cloud computing and online advertising.

The intrigue: Both giants are pursuing health care to drive future growth.

  • Walmart inked a decade-long deal with UnitedHealth last year to provide care to seniors on Medicare Advantage plans.
  • Amazon last year agreed to acquire One Medical, the primary care chain, which also offers virtual health care.

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